Golar LNG (NASDAQ:GLNG) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG – Free Report) to a sell rating in a research report sent to investors on Wednesday morning.

GLNG has been the subject of a number of other reports. Stifel Nicolaus lowered their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. B. Riley upped their price target on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Check Out Our Latest Report on Golar LNG

Golar LNG Price Performance

Golar LNG stock opened at $34.00 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. Golar LNG has a 52 week low of $19.94 and a 52 week high of $39.40. The stock has a market capitalization of $3.55 billion, a P/E ratio of 25.37 and a beta of 0.58. The stock has a fifty day moving average of $36.24 and a 200-day moving average of $32.45.

Golar LNG (NASDAQ:GLNG – Get Free Report) last issued its earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The business had revenue of $62.98 million for the quarter, compared to analyst estimates of $67.38 million. On average, sell-side analysts expect that Golar LNG will post 1.29 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, November 25th. Golar LNG’s payout ratio is currently 74.63%.

Institutional Trading of Golar LNG

Several institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Golar LNG during the 3rd quarter worth about $32,000. Lowe Wealth Advisors LLC bought a new position in shares of Golar LNG during the second quarter worth about $45,000. Blue Trust Inc. lifted its stake in shares of Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after acquiring an additional 703 shares during the period. Sound Income Strategies LLC bought a new stake in Golar LNG in the third quarter valued at approximately $52,000. Finally, EverSource Wealth Advisors LLC increased its position in Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares during the period. Institutional investors own 92.21% of the company’s stock.

About Golar LNG

(Get Free Report)

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.

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